Tesla’s stock fell 3.3 percent Monday after it was reported that the electric car company asked suppliers for a refund of a portion of its payment. While automotive companies asking investors for cash back to support operations is a standard part of the negotiating process, Tesla has repeatedly said it doesn’t need the cash. However,
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Check out the companies making headlines after the bell: Shares of Google’s parent company Alphabet shot up more than 3 percent in extended-hours trading. The company beat analysts’ earnings estimates for its second quarter, posting $11.75 per share versus the $9.59 that was expected. Alphabet also beat analysts’ revenue expectations, generating $32.66 billion versus the
Fannie Mae announced Monday that CEO Timothy Mayopoulos will step down from his role by the end of the year. The company said Mayopoulos will remain in his role until he leaves the company. Fannie Mae’s board said it will begin its search for his successor. Fannie Mae also named CFO David Benson as president
The nationwide housing shortage continues but is especially troublesome for homebuyers with a budget of $250,000 or less, Susan Wachter, professor of real estate and of finance at the Wharton School of Business at the University of Pennsylvania, told CNBC on Monday. Rising labor, land and material costs are slowing down the supply, “except at
Shutterstock Thanks to a new strategic partnership, homebuyers in 15 states can now see faster (and fully digital) closings on real estate transactions. As of this morning, digital notary platform Notarize has partnered with Title Resources, a national title company, to offer electronic notarizations to its customers. The deal opens the door to 100% digital
By Karen Wagner and Erica Baird, Next Avenue Contributors Credit: Shutterstock (This article is the last in a four-part series on retiring boomers. The first three articles were: 1) “What Surprises Boomer Women Professionals When They Retire” 2) “Adjusting to Retirement: 4 Ways Women Professionals Can Get Over the Hump” and 3) “Retired Professional Women: Finding
Over your lifetime you’re going to need things you can only buy on credit. Big things. A house. A car. A dream vacation, or college tuition. Most people have to finance these things. And a lackluster score will make them more expensive, because you’ll pay more in interest. A survey from LendingTree shines a light
When it comes to income inequality, even the top 1 percent of earners in the U.S. stack up unevenly, according to a new report by the Economic Policy Institute. It costs the least in Mississippi, $254,362, to crack the top 1 percent of earners in the state, the think tank found after analyzing annual incomes
Sarissa Capital Management chief investment officer Alex Denner spoke with CNBC Pro for an exclusive interview from the Delivering Alpha Conference in New York, and detailed his case for investing in Biogen. Like other shareholder activists, Denner’s approach focuses on improving the strategies of companies to unlock otherwise trapped equity value. Having previously served as
Shutterstock There’s a time bomb ticking in many estate plans. You likely won’t know if the bomb explodes. The bombs explode in many estates, however, and the only question is how big the explosion will be. The “bomb” is the person, or people, you name to act for you. Whether they act during your lifetime
A $10,000 threat to your wallet is hiding in your home, and you’re probably doing nothing to address it. A recent survey from Chubb found that 90 percent of homeowners believe they are “vigilant” or do an “okay” job of protecting their abodes. The property-casualty insurer polled 1,204 people in May. Nearly 64 percent of
Already a global leader in data and records management services, Iron Mountain is expanding aggressively into key markets around the world. In its latest move, the company has begun construction on a $430 million data center on a nine-acre site in east Phoenix. The Iron Mountain Inc. data storage facility in Boyers, Pennsylvania, located in
The Marlboro man has taken the reins of the Prancing Horse. Ferrari on Saturday announced Louis Camilleri, the former chairman and CEO of Philip Morris International and a current Ferrari board member, will be the company’s new CEO. The news followed the surprise announcement that current CEO and chairman Sergio Marchionne was “unable to return
Pet pharmacy company PetMed Express shares dropped Monday after a weak earnings report due to rising competition from smaller vendors. Shares were down as much as 14 percent following a first-quarter earnings report released before the bell, their biggest drop since July 2012. The Delray Beach, Florida-based company said it had profit of 62 cents
A strong start to second-quarter earnings season isn’t doing very much for future expectations, which in turn could put a drag on where the stock market is headed. S&P 500 companies are off to a glittering start, with 87 percent reporting better-than-expected profits as compared with the same period in 2017, according to FactSet. Though
Corporate earnings are “holding the market together” as traders expect President Donald Trump will not let up in his fight with foreign allies on trade, closely followed trader Art Cashin told CNBC on Monday. “Many traders are starting backward from a set date,” said Cashin, UBS director of floor operations at the New York Stock
10 Retirement Accounts your need to know about to Cruise to a Secure Retirement. (Photo by Philip Ramey/Corbis via Getty Images) From well-known options like IRAs and 401(k)s, to more obscure ones like Cash Balance Pension Plans or Rich people Roths, these accounts can help you grow your savings. They also help you pay less
Despite two hikes of the Federal Funds rate this year, ranging between 1.75 percent and 2 percent, long-term rates have not kept pace, causing the yield curve to flatten and stoking fears of a recession. Just about every time the U.S. Treasurys yield curve has flattened in the past, the U.S. economy has tanked shortly
LOS ANGELES, CA – JULY 19: The house used in the American sitcom “The Brady Bunch” has been listed for sale at $1.885 million. (Photo by PG/Bauer-Griffin/GC Images) When I bought my 1880 Victorian fixer-upper on the East Coast a dozen years ago, the once-elegant staircase had been changed into a modern atrocity. The ends
The American Bar Association (ABA) has revealed that a staff member had diverted about $1.3 million from the organization over a period of eight years. The theft was made public via the company’s annual tax form, a form 990. Businessman receiving his salary and bonusShutterstock Tax-exempt organizations are required to file an informational return each